PAC - Grupo Aeroportuario del Pacifico Announces Results for the Third Quarter of 2022

GUADALAJARA, Mexico, Oct. 21, 2022 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) reported its consolidated results for the third quarter ended September 30, 2022 (3Q22) (tables are presented at the end of this report comparing passenger traffic and consolidated results for 2022 to 2019, in order to illustrate the recovery and trend of these metrics). Figures are unaudited and have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”).

Summary of Results 3Q22 vs. 3Q21 (and 3Q19 for purposes of illustrating the recovery trend) :

• The sum of aeronautical and non-aeronautical services revenues increased by Ps. 1,425.6 million, or 32.7% (Ps. 2,261.4 million, or 64.3%, as compared to 3Q19) . Total revenues increased by Ps. 1,459.2 million, or 27.6% (Ps. 2,436.6 million, or 56.5%, as compared to 3Q19) .
  
  
• Cost of services increased by Ps. 221.7 million, or 29.2% (as compared to 3Q19, cost of services increased Ps. 310.6 million, or 46.3%) .
  
  
• Income from operations increased by Ps. 917.0 million, or 35.5% (Ps. 1,495.0 million, or 74.7%, as compared to 3Q19) .
  
  
• EBITDA increased by Ps. 986.6 million, or 31.8% (Ps. 1,643.0 million, or 67.3%, as compared to 3Q19) , going from Ps. 3,098.4 million in 3Q21 to Ps. 4,085.0 million in 3Q22. EBITDA margin (excluding the effects of IFRIC 12) went from 71.3% in 3Q21 to 70.7% in 3Q22 (EBITDA margin (excluding the effects of IFRIC 12) was 69.5% in 3Q19) .
  
  
• Comprehensive income increased Ps. 642.0 million, or 31.9% (as compared to 3Q19, it increased Ps. 1,200.8 million, or 82.5%) , from income of Ps. 2,014.7 million in 3Q21 to income of Ps. 2,656.7 million in 3Q22.
  

Company’s Financial Position:

During 3Q22, results were significantly better as compared to 3Q21 because of a 27.6% increase in total revenues. The Company generated positive EBITDA of Ps. 4,085.0 million, an increase of 31.8% as compared to 3Q21.

In 3Q22, operating activities continued generating positive cash flow of Ps. 3,748.6 million. The Company reported a financial position of cash and cash equivalents as of September 30, 2022, of Ps. 16,157.6 million (51.7% higher than the balance as of September 30, 2021). During 3Q22, the Company issued Ps. 2,757.6 million in long-term debt securities ( Certificados Bursátiles ) to finance the committed investments for our Mexican airports and to pay our “GAP 17-2” debt securities that will mature on November 3. Additionally, Ps. 924.3 million in share repurchases were made during the 3Q22.

Passenger Traffic

During 3Q22, total passengers at the Company’s 14 airports increased by 2,885.8 thousand passengers, an increase of 24.6%, compared to 3Q21 (as compared to 3Q19, total passengers increased by 2,750.4 thousand passengers, or 23.2%) .

During 3Q22, the following new routes were opened:

Domestic:

^{Note: Frequencies can vary without prior notice.}

International:

^{Note: Frequencies can vary without prior notice.}

Domestic Terminal Passengers – 14 airports (in thousands) :

^{*Cross Border Xpress (CBX) users are classified as international passengers.}

International Terminal Passengers – 14 airports (in thousands) :

^{*CBX users are classified as international passengers.}

Total Terminal Passengers – 14 airports (in thousands) :

^{*CBX users are classified as international passengers.}

CBX Users (in thousands) :

Consolidated Results for the Third Quarter of 2022 (in thousands of pesos) :

<sup>- Net income and comprehensive income per share for 3Q22 were calculated based on 505,277,464 shares outstanding as of September 30, 2022 and for 3Q21 were calculated based on 514,705,326 shares outstanding as of September 30, 2021. U.S. dollar figures presented were converted from pesos to U.S. dollars at a rate of Ps. 20.1150 per U.S. dollar (the noon buying rate on September 30, 2022, as published by the U.S. Federal Reserve Board).
- For purposes of the consolidation of our Jamaican airports, the average three-month exchange rate of Ps. 20.2403 per U.S. dollar for the three months ended September 30, 2022 was used.</sup>

Revenues (3Q22 vs. 3Q21)

• Aeronautical services revenues increased by Ps. 1,133.3 million, or 34.2%.
• Non-aeronautical services revenues increased by Ps. 292.4 million, or 28.2%.
• Revenues from improvements to concession assets increased by Ps. 33.6 million, or 3.6%.
• Total revenues increased by Ps. 1,459.2 million, or 27.6%.

• The change in aeronautical services revenues was composed primarily of the following factors:
  
  
  1. Revenues at our Mexican airports increased by Ps. 857.1 million or 30.0% compared to 3Q21, mainly due to the 21.7% increase in passenger traffic and the adjustment in maximum rates as a result of inflation.
     
     
  2. Revenues from the Montego Bay airport increased by Ps. 134.3 million, or 43.6%, compared to 3Q21. This was mainly due to the 42.2% increase in passenger traffic. During 3Q22, there was a 1.2% depreciation of the peso versus the U.S. dollar, which went from an average exchange rate of Ps. 20.0092 in 3Q21 to Ps. 20.2403 in 3Q22.
     
     
  3. Revenues from the Kingston airport increased by Ps. 141.9 million, or 91.2% compared to 3Q21, mainly due to an 87.2% increase in passenger traffic.
     
     
• The change in non-aeronautical services revenues was composed primarily of the following factors:
  
  
  1. Revenues at our Mexican airports increased by Ps. 218.6 million, or 25.2%, compared to 3Q21. Revenues from businesses operated by third parties increased by Ps. 109.9 million, or 18.3%. Mainly due to the recovery of passenger traffic. The business lines that increased the most were food and beverage, retail, car rentals, duty-free stores, time shares and ground transportation, which jointly increased by Ps. 92.5 million, or 18.1%. Revenues from businesses operated directly by us increased by Ps. 103.0 million, or 44.5%, while the recovery of costs increased by Ps. 5.7 million, or 15.7%.
     
     
  2. Revenues from the Montego Bay airport increased by Ps. 58.2 million, or 46.7%, compared to 3Q21. Revenues in U.S. dollars increased US$ 2.8 million, or 50.0%.
     
     
  3. Revenues from the Kingston airport increased by Ps. 15.6 million, or 34.1%, compared to 3Q21. Revenues in U.S. dollars increased US$ 0.7 million, or 30.1%.
     
     

^{Figures expressed in thousands of Mexican pesos.}

• Revenues from improvements to concession assets ¹
  Revenues from improvements to concession assets (IFRIC-12) increased by Ps. 33.6 million, or 3.6%, compared to 3Q21. The change was composed primarily of:
  

1. The Company’s Mexican airports, which increased by Ps. 31.2 million, or 3.4%, as a result of the increase in committed investments in the Master Development Program for the 2020-2024 period.
   
   
2. Improvements to concession assets at the Montego Bay airport increased Ps. 2.4 million, or 16.5%. During 3Q22, no improvements to concession assets were made at the Kingston airport.
   

Total operating costs increased by Ps. 542.3 million, or 20.0%, compared to 3Q21, mainly due to a combined increase of Ps. 214.2 million, or 42.8%, in concession taxes and technical assistance fees, a Ps. 221.7 million, or 29.2%, increase in cost of services, a Ps. 69.7 million, or 13.5%, increase in depreciation and amortization and a Ps. 33.6 million, or 3.6% increase in the cost of improvements to the concession assets (IFRIC-12), (excluding the cost of improvements to concession assets, operating costs increased Ps. 508.7 million, or 28.7%).

This increase in total operating costs was composed primarily of the following factors:

Mexican Airports:

• Operating costs increased by Ps. 370.4 million, or 16.5%, compared to 3Q21, primarily due to a Ps. 187.9 million, or 31.8%, increase in cost of services, a combined Ps. 90.1 million, or 27.5%, increase in technical assistance fees and concession taxes, a Ps. 63.3 million, or 15.9%, increase in depreciation and amortization, and a Ps. 31.2 million, or 3.4%, increase in the cost of improvements to the concession assets (IFRIC-12), (excluding the cost of improvements to the concession assets (IFRIC-12), operating costs increased by Ps. 339.3 million or 25.8%) .
  

The change in the cost of services during 3Q22 was mainly due to:

• Employee costs increased Ps. 78.3 million, or 34.3%, compared to 3Q21, mainly due to the hiring of additional personnel as required for airport operations due to the recovery of passenger traffic.
• Safety, security and insurance costs increased Ps. 16.2 million, or 17.9%, compared to 3Q21, mainly due to an increase in the number of security staff and the opening of operational areas.
• Utility costs increased Ps. 11.2 million, or 14.8%, compared with 3Q21, primarily because of the increase in the consumption of electricity due to the opening of new operational areas, fuels and the increase in the cost of water.
• Other operating expenses increased Ps. 79.6 million, or 95.1%, compared to 3Q21, mainly due to a combined increase of Ps. 71.6 million in the cost of goods and services for our VIP lounges and convenience stores due to the increase in sales of these business lines, FBO services, professional fees, allowance for credit losses and travel expenses.

Montego Bay Airport:

• Operating costs increased by Ps. 61.0 million, or 22.2%, compared to 3Q21, mainly due to a Ps. 27.6 million, or 55.4%, increase in concession taxes, a Ps. 20.1 million, or 20.9%, increase in the cost of services, a Ps. 5.8 million, or 4.9%, increase in depreciation and amortization and a Ps. 2.4 million, or 16.5%, increase in the cost of improvements to concession assets (IFRIC-12).
  

Kingston Airport:

• Operating costs increased by Ps. 110.8 million, or 56.1%, compared to 3Q21, mainly due to a Ps. 96.5 million, or 78.5%, increase in concession taxes, and a Ps. 13.7 million, or 19.0%, increase in the cost of services.
  

Operating margin went from 48.8% in 3Q21 to 51.8% in 3Q22. Excluding the effects of IFRIC-12, operating margin went from 59.3% in 3Q21 to 60.5% in 3Q22. Operating income increased Ps. 917.0 million, or 35.5%, compared to 3Q21.

EBITDA margin went from 58.5% in 3Q21 to 60.5% in 3Q22. Excluding the effects of IFRIC-12, EBITDA margin went from 71.3% in 3Q21 to 70.7% in 3Q22. The nominal value of EBITDA increased Ps. 986.7 million, or 31.8%, compared to 3Q21.

Financial cost increased by Ps. 13.3 million, or 6.2%, from a net expense of Ps. 214.0 million in 3Q21 to a net expense of Ps. 227.3 million in 3Q22. This change was mainly the result of:

• Foreign exchange rate fluctuations, which went from an income of Ps. 87.6 million in 3Q21 to income of Ps. 208.1 million in 3Q22. This generated an increase in the foreign exchange gain of Ps. 120.5 million. Currency translation effect income decreased Ps. 68.2 million, compared to 3Q21.
  
  
• Interest expenses increased by Ps. 236.3 million, or 58.5%, compared to 3Q21, mainly due to higher debt as a result of the issuance of long-term debt securities and the increase in interest rates.
  
  
• Interest income increased by Ps. 102.5 million, or 100.4%, compared to 3Q21, mainly due to an increase in the reference interest rates.
  

In 3Q22, comprehensive income increased Ps. 642.0 million, or 31.9%, compared to 3Q21. This increase was mainly due to a Ps. 903.7 million increase in profit before taxes derived from the increase in passenger traffic. This increase was partially offset by an increase in income taxes of Ps. 20.7 million, a Ps. 68.2 million decrease in currency translation effect income and a Ps. 163.1 million decrease in cash flow hedges.

During 3Q22, net income increased by Ps. 883.0 million, or 49.6% , compared to 3Q21. Income taxes increased by Ps. 161.9 million and were partially offset by a Ps. 141.2 million increase in the benefit for deferred taxes, mainly due an increase in the inflation rate, from 1.5% in 3Q21 to 2.2% in 3Q22.

Consolidated Results for the Nine Months of 2022 (in thousands of pesos) :

<sup>- Net income and comprehensive income per share for period ended September 30, 2022 were calculated based on 505,277,464 shares outstanding as of that date and for the period ended September 30, 2021 were calculated based on 514,705,326 shares outstanding as of that date. U.S. dollar figures presented were converted from pesos to U.S. dollars at a rate of Ps. 20.1150 per U.S. dollar (the noon buying rate on September 30, 2022, as published by the U.S. Federal Reserve Board).
- For purposes of the consolidation of our Jamaican airports, the average exchange rate of Ps. 20.2682 per U.S. dollar for the nine months ended September 30, 2022 was used.</sup>

Revenues (9M22 vs. 9M21)

• Aeronautical services revenues increased by Ps. 4,214.1 million, or 50.1%.
• Non-aeronautical services revenues increased by Ps. 1,231.3 million, or 47.6%.
• Revenues from improvements to concession assets increased by Ps. 102.8 million, or 3.6%.
• Total revenues increased by Ps. 5,548.2 million, or 40.1%.

• The change in aeronautical services revenues was composed primarily of the following factors:
  
  
  1. Revenues at our Mexican airports increased by Ps. 3,287.6 million or 44.6% compared to 9M21, mainly due to the 32.6% increase in passenger traffic and the adjustment in maximum rates as a result of inflation.
     
     
  2. Revenues from the Montego Bay airport increased by Ps. 585.7 million, or 84.8%, compared to 9M21. This was mainly due to the 83.2% increase in passenger traffic.
     
     
  3. Revenues from the Kingston airport increased by Ps. 340.8 million, or 95.9% compared to 9M21, mainly due to a 99.6% increase in passenger traffic.
     
     
• The change in non-aeronautical services revenues was composed primarily of the following factors:
  
  
  1. Revenues at our Mexican airports increased by Ps. 981.7 million, or 45.5%, compared to 9M21. Revenues from businesses operated by third parties increased by Ps. 602.5 million, or 40.5%. This was mainly due to the recovery of passenger traffic. The business lines that increased the most were food and beverage, retail, car rentals, duty-free stores, time shares and other revenues, which jointly increased by Ps. 539.1 million, or 44.9%. Revenues from businesses operated directly by us increased by Ps. 361.6 million, or 63.9%, while the recovery of costs increased by Ps. 17.6 million, or 16.5%.
     
     
  2. Revenues from the Montego Bay airport increased by Ps. 196.4 million, or 61.8%, compared to 9M21. Revenues in U.S. dollars increased US$ 9.6 million, or 60.7%.
     
     
  3. Revenues from the Kingston airport increased by Ps. 53.1 million, or 49.5%, compared to 9M21. Revenues in U.S. dollars increased US$ 2.6 million, or 48.5%.
     
     

^{Figures expressed in thousands of Mexican pesos.}

• Revenues from improvements to concession assets ²
  Revenues from improvements to concession assets (IFRIC12) increased by Ps. 102.8 million, or 3.6%, compared to 9M21. The change was composed primarily of:

1. The Company’s Mexican airports, which increased by Ps. 88.6 million, or 3.2%, as a result of the increase in committed investments in the Master Development Program for the 2020-2024 period.
   

1. Improvements to concession assets at the Montego Bay airport increased Ps. 14.3 million, or 25.5%. During 9M22, no improvements to concession assets were made at the Kingston airport.
   

Total operating costs increased by Ps. 1,510.0 million, or 19.6%, compared to 9M21, mainly due to a combined Ps. 710.3 million, or 57.2%, increase in concession taxes and technical assistance fees, a Ps. 527.3 million, or 25.0%, increase in cost of services, a Ps. 184.2 million, or 12.0%, increase in depreciation and amortization and a Ps. 102.8 million, or 3.6% increase in the cost of improvements to the concession assets (IFRIC-12), (excluding the cost of improvements to concession assets, operating costs increased Ps. 1,407.1 million, or 28.9%).

This increase in total operating costs was composed primarily of the following factors:

Mexican Airports:

• Operating costs increased by Ps. 1,064.4 million, or 16.6%, compared to 9M21, primarily due to a combined Ps. 372.3 million, or 44.4%, increase in technical assistance fees and concession taxes, a Ps. 429.1 million, or 26.2%, increase in cost of services, a Ps. 178.0 million, or 15.3%, increase in depreciation and amortization, and a Ps. 88.6 million, or 3.2%, increase in the cost of improvements to the concession assets (IFRIC-12), (excluding the cost of improvements to the concession assets (IFRIC-12), operating costs increased by Ps. 975.8 million or 26.8%) .
  

The change in the cost of services during 9M22 was mainly due to:

• Employee costs increased Ps. 174.5 million, or 26.2%, compared to 9M21, mainly due to the hiring of additional personnel as required for airport operations due to the recovery of passenger traffic.
• Maintenance costs increased by Ps. 66.0 million, or 23.7%, compared to 9M21.
• Safety, security and insurance costs increased Ps. 33.3 million, or 12.5%, compared to 9M21, mainly due to an increase in the number of security staff.
• Utility costs increased Ps. 23.1 million, or 12.5%, compared with 3Q21, primarily because of the increase in the consumption of electricity due to the opening of new operational areas, fuels and the increase in the cost of water.
• Other operating expenses increased Ps. 132.2 million or 54.1%, compared to 9M21, mainly due to a combined increase of Ps. 119.9 million in the cost of goods and services for our VIP lounges and convenience stores, FBO services, professional fees, the allowance for credit losses and travel expenses.
  

Montego Bay Airport:

• Operating costs increased by Ps. 167.1 million, or 20.4%, compared to 9M21, mainly due to a Ps. 95.8 million, or 79.8%, increase in concession taxes and a Ps. 61.7 million, or 21.9%, increase in the cost of services.
  

Kingston Airport:

• Operating costs increased by Ps. 278.4 million, or 58.5%, compared to 9M21, mainly due to a Ps. 242.2 million, or 86.1%, increase in concession taxes, and a Ps. 36.4 million, or 19.6%, increase in the cost of services.
  

Operating margin went from 44.3% in 9M21 to 52.4% in 9M22. Excluding the effects of IFRIC-12, operating margin went from 55.7% in 9M21 to 61.8% in 9M22. Operating income increased Ps. 4,038.2 million, or 66.0%, compared to 9M21.

EBITDA margin went from 55.3% in 9M21 to 61.3% in 9M22. Excluding the effects of IFRIC-12, EBITDA margin went from 69.6% in 9M21 to 72.2% in 9M22. The nominal value of EBITDA increased Ps. 4,222.4 million, or 55.2%, compared to 9M21.

Financial cost increased by Ps. 88.9 million, or 12.7%, from a net expense of Ps. 699.5 million in 9M21 to a net expense of Ps. 788.4 million in 9M22. This change was mainly the result of:

• Foreign exchange rate fluctuations, which went from income of Ps. 205.2 million in 9M21 to income of Ps. 342.0 million in 9M22. This generated an increase in the foreign exchange gain of Ps. 136.8 million. Currency translation effect expense increased Ps. 322.5 million, compared to 9M21.
  
  
• Interest expenses increased by Ps. 489.4 million, or 40.3%, compared to 9M21, mainly due to higher debt as a result of the issuance of long-term debt securities and the increase in interest rates.
  
  
• Interest income increased by Ps. 263.7 million, or 85.4%, compared to 9M21, mainly due to an increase in the reference interest rates.
  

In 9M22, comprehensive income increased Ps. 2,514.0 million, or 54.3%, compared to 9M21. This increase was mainly due to a Ps. 3,949.4 million increase in profit before taxes derived from the increase in passenger traffic. This increase was partially offset by an increase in income taxes of Ps. 835.8 million and a Ps. 1,510.0 million increase in operating costs.

During 9M22, net income increased by Ps. 3,113.5 million, or 73.4% , compared to 9M21. Income taxes increased by Ps. 1,093.5 million and were partially offset by a Ps. 257.7 million increase in the benefit for deferred taxes, mainly due to an increase in the inflation rate, from 4.8% in 9M21 to 6.2% in 9M22.

Statement of Financial Position

Total assets as of September 30, 2022 increased by Ps. 12,362.4 million as compared to September 30, 2021, primarily due to the following items: (i) a Ps. 5,506.7 million increase in cash and cash equivalents; (ii) a Ps. 4,028.0 million increase in improvements to concession assets; (iii) a Ps. 2,295.1 million increase in machinery, equipment and leasehold improvements and advances to suppliers; and (iv) a Ps. 448.4 million increase in accounts receivable from customers, among others.

Total liabilities as of September 30, 2022 increased by Ps. 13,340.8 million compared to September 30, 2021. This increase was primarily due to the following items: (i) issuance of Ps. 8,257.6 million in long-term debt securities, (ii) Ps. 3,675.8 million in dividends pending payment, (iii) Ps. 699.5 million in accounts payable and iv) Ps. 213.1 million in guaranteed deposits. This increase was partially offset by decreases of: (i) Ps. 162.5 million in bank loans and (ii) Ps. 79.8 million in derivative financial instruments, among others.

Company Description

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates 12 airports throughout Mexico’s Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six other mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali and Los Mochis. In February 2006, GAP’s shares were listed on the New York Stock Exchange under the ticker symbol “PAC” and on the Mexican Stock Exchange under the ticker symbol “GAP”. In April 2015, GAP acquired 100% of Desarrollo de Concesiones Aeroportuarias, S.L., which owns a majority stake in MBJ Airports Limited, a company operating Sangster International Airport in Montego Bay, Jamaica. In October 2018, GAP entered into a concession agreement for the operation of the Norman Manley International Airport in Kingston, Jamaica and took control of the operation in October 2019.

In accordance with Section 806 of the Sarbanes-Oxley Act of 2002 and article 42 of the “Ley del Mercado de Valores”, GAP has implemented a “whistleblower” program, which allows complainants to anonymously and confidentially report suspected activities that may involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party that is in charge of collecting these complaints, is 01 800 563 00 47. The web site is www.lineadedenuncia.com/gap . GAP’s Audit Committee will be notified of all complaints for immediate investigation.

Exhibit A: Operating results by airport (in thousands of pesos):

Exhibit A: Operating results by airport (in thousands of pesos): (continued)

^{(1) Others include the operating results of the Aguascalientes, La Paz, Los Mochis, Manzanillo, Mexicali, Morelia and Kingston airports.}

Exhibit B: Consolidated statement of financial position as of September 30 (in thousands of pesos) :

^{The non-controlling interest corresponds to the 25.5% stake held in the Montego Bay airport by Vantage Airport Group Limited (“Vantage”).}

Exhibit C: Consolidated statement of cash flows (in thousands of pesos):

Exhibit D: Consolidated statements of profit or loss and other comprehensive income (in thousands of pesos) :

^{The non-controlling interest corresponds to the 25.5% stake held in the Montego Bay airport by Vantage Airport Group Limited (“Vantage”).}

Exhibit E: Consolidated stockholders’ equity (in thousands of pesos) :

^{For presentation purposes, the 25.5% stake in Desarrollo de Concesiones Aeroportuarias, S.L. (“DCA”) held by Vantage appears in the Stockholders’ Equity of the Company as a non-controlling interest.}

As a part of the adoption of IFRS, the effects of inflation on common stock recognized pursuant to Mexican Financial Reporting Standards (MFRS) through December 31, 2007 were reclassified as retained earnings because accumulated inflation recognized under MFRS is not considered hyperinflationary according to IFRS. For Mexican legal and tax purposes, Grupo Aeroportuario del Pacífico, S.A.B. de C.V., as an individual entity, will continue preparing separate financial information under MFRS. Therefore, for any transaction between the Company and its shareholders related to stockholders’ equity, the Company must take into consideration the accounting balances prepared under MFRS as an individual entity and determine the tax impact under tax laws applicable in Mexico, which requires the use of MFRS. For purposes of reporting to stock exchanges, the consolidated financial statements will continue being prepared in accordance with IFRS, as issued by the IASB.

Exhibit F: Other operating data:

^{WLU = Workload units represent passenger traffic plus cargo units (1 cargo unit = 100 kilograms of cargo).}

Passenger Traffic and Consolidated Results compared to the same periods of 2019:

Domestic Terminal Passengers – 14 airports (in thousands) :

^{*CBX users are classified as international passengers.}

International Terminal Passengers – 14 airports (in thousands) :

^{*CBX users are classified as international passengers.}

Total Terminal Passengers – 14 airports (in thousands) :

^{*CBX users are classified as international passengers.}

The Company took control of the operation of the Kingston airport on October 10, 2019, consequently no figures are available for comparison purposes from January to September, 2019.

CBX Users (in thousands) :

Consolidated Results and Other Data compared with 2019 (in thousands of pesos) :